* Investors wary ahead of European bank repayments to ECB
* Consumer confidence falls in June on job woes
* Dow off 2.5 pct, S&P down 2.9 pct, Nasdaq off 3.3 pct
* For up-to-the-minute market news see [STXNEWS/US] (Updates to late afternoon, changes byline)
NEW YORK, June 29 (Reuters) - U.S. stocks slid on Tuesday after concerns resurfaced over euro-zone fiscal woes ahead of massive bank repayments to the European Central Bank and a steep drop in consumer confidence unnerved investors.
The S&P 500 briefly tumbled near its 2010 intraday low of 1,040.78, which analysts said could ignite further declines. The index is on track to close at its lowest level since November and on track to break its closing low for the year at 1,050.47 -- another bearish signal for markets.
"This is very interesting now. This is a real critical point. If you can't hold 1,040 at this time of the day, you are set up for a pretty ugly close," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.